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let's grow the economy. >> bigger pie. >> guys differenttopic. after years of delaying a decision president obama finally leaning towards approving the keystone pipeline maybe. that's the message reporters with the "new york times" say the president gave to donors in california last night although he didn't mention keystone specifically he did say the temperature of the planet is not something you think about quote when you're struggling to get by. now i don't read this and see the keystone is get ago proved but the "new york times" thinks so and they are better reading his tea leaves than i'll ever be. >> the president would love not to approve it. he's hoping there's a break that somehow rationalizes his desire to pay homage to the global climate and not approve it. that's a dishonest position. that oil is coming out of there. it's coming to america or going to china. the president can now choose. there's no intellectually honest basis for him -- >> your point is canada will pump that oil. >> it's coming out. >> somebody will buy it. why should
let's grow the economy. >> bigger pie. >> guys differenttopic. after years of delaying a decision president obama finally leaning towards approving the keystone pipeline maybe. that's the message reporters with the "new york times" say the president gave to donors in california last night although he didn't mention keystone specifically he did say the temperature of the planet is not something you think about quote when you're struggling to get by. now i don't read this...
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Apr 5, 2013
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so what is the real jobs economy? the 88,000 jobs we just got in march or the revised 268,000 from february? well, the new math from the labor department says over the last 12 months the monthly average is just 169,000 jobs, not enough to really move the unemployment needle and wage growth? forget about it. average hourly earnings were flat in march and are up just 1.8% for the last 12 months. that's less than the inflation rate. still to come, the full impact on jobs from the sequester. brian? >> hampton pearson, thank you very much. >>> well, at one point today, folks, the dow is down more than 170 points but look at this chart. as you can see a late rally really limited the damage. it didn't make it all the way back but we sure got darned close. how come? here now is the chief equity strategist at fed rated investors. phil, throughout history, right, at least semimodern history, this kind of jobs number would have been seen as bad news. the dow would have tumbled a few percent. i think we can all agree this is not
so what is the real jobs economy? the 88,000 jobs we just got in march or the revised 268,000 from february? well, the new math from the labor department says over the last 12 months the monthly average is just 169,000 jobs, not enough to really move the unemployment needle and wage growth? forget about it. average hourly earnings were flat in march and are up just 1.8% for the last 12 months. that's less than the inflation rate. still to come, the full impact on jobs from the sequester. brian?...
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Apr 3, 2013
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, the level of debt in the economy, in many economies in america, in britain, in many parts of europe and japan across the world to get to too high levels, private sector debt initially and we failed to realize that that would have major consequences indeed the economic theories of the time tended to say whatever the financial sector does, whatever products it produces, whatever level of leverage results, that must be for the good. i think we know that isn't right now. interestingly we talk about new economic thinking. some of the best insights on this issue of leverage and excess death was written by mid 20th century scientists who looked at the wreckage produced by excess leverage in the 1920s. these are some of the issue that i want to have the opportunity to stepping back from day-to-day business of financial regulation and think about more fundamental issues. >> alan? >> do you think the british economy is too heavily focused upon financial services and also upon revenues from oil and gas extraction as well and that it needs to be diversified substantially more in order to make i
, the level of debt in the economy, in many economies in america, in britain, in many parts of europe and japan across the world to get to too high levels, private sector debt initially and we failed to realize that that would have major consequences indeed the economic theories of the time tended to say whatever the financial sector does, whatever products it produces, whatever level of leverage results, that must be for the good. i think we know that isn't right now. interestingly we talk...
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Apr 3, 2013
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he's hopeful, quote, the economy has finally shifted into higher gear. there are headwinds still ahead, budget cuts, weaker foreign economies, and uncertainty. he says a full-fledged european financial collapse is unlikely, but the economic weakness is likely to continue. the unemployment rate, long-term, will remain above what he considers normal, which is 5.5%, until 2016. he goes on to say that benefits of quantitative easing continue to outweigh costs, by a large margin, and points out that tapering quantitative easing does not indicate tightening since the federal reserve will still be buying assets while it's tapering. it will just reduce the amount, and also, the fed will hold a large amount of securities, even when it stops buying. bill, maria? >> very quickly, steve, is he considered in the hawkish camp, traditionally? >> no. >> is this the kind of statement we would expect from john williams? >> john williams is one of those who argued very strongly for the open-ended quantitative easing. he was very much in favor, and he continues to be in fav
he's hopeful, quote, the economy has finally shifted into higher gear. there are headwinds still ahead, budget cuts, weaker foreign economies, and uncertainty. he says a full-fledged european financial collapse is unlikely, but the economic weakness is likely to continue. the unemployment rate, long-term, will remain above what he considers normal, which is 5.5%, until 2016. he goes on to say that benefits of quantitative easing continue to outweigh costs, by a large margin, and points out that...
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Apr 3, 2013
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stocks and whether you think given the underlying fundamentals of the economy and the marketplace that those fundamentals justify today's price? >> we do. the biggest debate is pace versus distance. but directionally we feel constructive. all of those pieces are still there. fear is pushing frustration. you're watching people who have been underinvested rebuilding portfolios. >> you have rebuilt a transitional moment in the market. what is that? we're there now. what is it and what is it causing you to do? >> the key part of that question is being much more balanced and invested. even a year ago, being more dramatic, concentrated, focusing on bonds and credit, made a great deal of sense. but in a market that is normalizing, i want to emphasize this and underline it. we really are hitting the inflection. it's one that will take us from recovery to expansion. but what it will do for investors is broaden what they are investing. >> it is time. if you haven't started moving already, move that way. let's listen to some sound earlier today about the job market. this is with steve, the job ma
stocks and whether you think given the underlying fundamentals of the economy and the marketplace that those fundamentals justify today's price? >> we do. the biggest debate is pace versus distance. but directionally we feel constructive. all of those pieces are still there. fear is pushing frustration. you're watching people who have been underinvested rebuilding portfolios. >> you have rebuilt a transitional moment in the market. what is that? we're there now. what is it and what...
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Apr 2, 2013
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he has driven down the economy which has driven down prices. >> i think that was george w. bush -- >> we're not going to do that. addison, thanks for joining us tonight. >> sure michelle. >> addison armstrong. now real proof the s.e.c. is actually moving into the 21st century tonight. >>> plus s your brain worth $100 worth of taxpayer money? those are just two of our news headlines coming up next. don't move. in the world. the bese it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. i know what you're thinking... transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or th
he has driven down the economy which has driven down prices. >> i think that was george w. bush -- >> we're not going to do that. addison, thanks for joining us tonight. >> sure michelle. >> addison armstrong. now real proof the s.e.c. is actually moving into the 21st century tonight. >>> plus s your brain worth $100 worth of taxpayer money? those are just two of our news headlines coming up next. don't move. in the world. the bese it's delicious. so now we've...
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Apr 1, 2013
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you know, is it 95% economy or 50% economy? i do know one thing. if freight is normalized and the average mortgage goes up 6%, 7%, securitization gets reborn like "star trek", do you think housing could survive that? if it can't, we're all chasing our tails. >> i think this is a conversation we're going to have to continue. rick, thank you. steve, thank you. guys, we'll pick up where we left off tomorrow. >> okay. coming up, open house in squawk land. housing, what's selling, what's not and what this tells us about the u.s. economy. first, put me in, coach. it's one of the fiercest rivalries in all of sports. yankees and red sox. the two starting head to head in the bronx today. welcome to the new new york state. what's the "new" in the new new york? a new property tax cap... and the lowest middle class income tax rate in 60 years... and a billion dollars in tax breaks and incentives. new opportunities for business. over 250,000 new private sector jobs were created over the last two years. and 17 straight months of job growth. with the most private
you know, is it 95% economy or 50% economy? i do know one thing. if freight is normalized and the average mortgage goes up 6%, 7%, securitization gets reborn like "star trek", do you think housing could survive that? if it can't, we're all chasing our tails. >> i think this is a conversation we're going to have to continue. rick, thank you. steve, thank you. guys, we'll pick up where we left off tomorrow. >> okay. coming up, open house in squawk land. housing, what's...
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Apr 1, 2013
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at the sam time they obviously got ahead in the sales trying to stimulate the economy. i see one of the worst-performing stocks in the first quarter was u.s. steel, it was the leader, why? because china infrastructure would continue to take off. it was the leader going into the crash, andy think it shows you whether it's the iron/or stock and these kvrnt be the leader and the market that has been led by on let me say it one more time. bristol-myers. >> and one thing you need to recognize, bristol-myers spent a fortune buying a hep c drug and it still went to 41 and the unstoppable monster and new abstracts on hep c. celgene. it's the key to this market. >> celgene is the key to this market. it's replaced tractor supply. >> that's not necessarily a good thing for celgene. >> don't take the throne from ulta, please. >> michael steinberg has been charged with insider trading and he was arrested friday in new york and entered a plea of not guilty. it involves trades and shares of dell and nvidia that generated $1.4 million in profits. a lot of discussion, guys around this s
at the sam time they obviously got ahead in the sales trying to stimulate the economy. i see one of the worst-performing stocks in the first quarter was u.s. steel, it was the leader, why? because china infrastructure would continue to take off. it was the leader going into the crash, andy think it shows you whether it's the iron/or stock and these kvrnt be the leader and the market that has been led by on let me say it one more time. bristol-myers. >> and one thing you need to recognize,...
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and later on, the game of thrones economy. how this show has proven a big boon for lands far away. >> the cbo? the volatility, the fear level is up a little bit today. up 4% to 14. still not that high. the vix around 18, 19, 20. probably more worrisome but still probably higher today. >> aside from the weak headline, in march came this scary fact. nearly half a million people simply drop out of the work force. they vanished. with an aging population, some of the losses can be attributed to people retiring but it doesn't likely tell the whole story. first to you, you will dig into these numbers. where are these people going? and how are they making a living? >> who are they? it's very interesting. when you can't answer the question. i want to show you some charts that i calculated here. i was really surprised at the results here. this is the change from january 1990 by age of whether or not the amount of employed and amount in the labor force. what you can see is this whole middle-aged group. it's down in their labor force. and
and later on, the game of thrones economy. how this show has proven a big boon for lands far away. >> the cbo? the volatility, the fear level is up a little bit today. up 4% to 14. still not that high. the vix around 18, 19, 20. probably more worrisome but still probably higher today. >> aside from the weak headline, in march came this scary fact. nearly half a million people simply drop out of the work force. they vanished. with an aging population, some of the losses can be...
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that the economy will improve. prime minister shinzo abe toned down his demands to the boj a little, the saying he's not in the necessarily asking the boj too chief its price target at all costs. but he made sure to emphasize that it's important for the central bank to make efforts towards its goal, saying he will not rule out a revision to the boj law if it fails to meet its policy commitment. back to you, kelly. >> thank you so much. markets want more from kuroda. we'll have to see if he delivers. >> straight ahead on the program, it's victory for the generic drugmakers, but it comes at the expense of novartis. we'll explain what it all means. >>> boib to "worldwide exchange." corporate news out of japan, sharp says it's going to unveil its survival plans which investors have been waiting on along with full year earnings on may 14th. this according to sources reuters is quoting. investors have about another six weeks to wait to find out both how sharp did in 2012 and what it's going to do to try to turn itself ar
that the economy will improve. prime minister shinzo abe toned down his demands to the boj a little, the saying he's not in the necessarily asking the boj too chief its price target at all costs. but he made sure to emphasize that it's important for the central bank to make efforts towards its goal, saying he will not rule out a revision to the boj law if it fails to meet its policy commitment. back to you, kelly. >> thank you so much. markets want more from kuroda. we'll have to see if...
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clearly, it cannot do more to stimulate the economy. it's already said it's going to be at zero until 2016. we need to be looking the at what is making america a left business friendly environment, regulations, obama care, the threat of tax hikes that gene sperling was just talking about a few moments ago. we need to have, keep low-tax environment and less regulation. >> betsey, what do you think? >> well, i think, actually, the recovery has been progressing. so some of what the fed's doing has been working. if you look over the previous three months, we had growth that averaged over 200,000 jobs a month. so, obviously, we'd like to see growth increasing going a bit faster, but i think if you look at today's 88,000, it's wrongheaded to blame that on the fed. i think there's a clear place to blame it, and that's congress with the sequester. the fed is doing what it can and what it should do to balance its dual mandate of employment and inflation. >> but the fed is sort of alone out there, right? the fed seems like it's bailing out policy
clearly, it cannot do more to stimulate the economy. it's already said it's going to be at zero until 2016. we need to be looking the at what is making america a left business friendly environment, regulations, obama care, the threat of tax hikes that gene sperling was just talking about a few moments ago. we need to have, keep low-tax environment and less regulation. >> betsey, what do you think? >> well, i think, actually, the recovery has been progressing. so some of what the...
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jules, how much discussion today on the economy? as we see that pmi data, how much is the fallout on cypress and what it means for the banking sector? >> ross, i think it's fair to assume he will be grilled on cyprus. given what we've seen this morning, what we've already seen, the softening of inflation, whether there's some acknowledgement of the language that he uses. he expected q1 to be weak. a lot of this news is what was also predicted. the question is, does he open the door for further rate cuts down the road. the consensus overwhelmingly is no change for interest rates. investors are concerned about the possibility of their flight. but as we just said, cyprus is overwhelmingly going to be the key. i just spoke to the key international economist of deutsche bank. he said draghi is going to do the best to distance himself from that cypriot bailout deal. it's going to be very interesting to see how he deals with this and is separate himself from the comments made by the euro chief. the other thing he'll be asked is about cypre
jules, how much discussion today on the economy? as we see that pmi data, how much is the fallout on cypress and what it means for the banking sector? >> ross, i think it's fair to assume he will be grilled on cyprus. given what we've seen this morning, what we've already seen, the softening of inflation, whether there's some acknowledgement of the language that he uses. he expected q1 to be weak. a lot of this news is what was also predicted. the question is, does he open the door for...
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this has basically made the economy much worse. the fact that italy has already defaulted internally, clearly that is totally ineffectual. >> investors still don't care, though. would it be better if the market cared more if there wasn't a natural deterrent from pensions to change economy? is it an okay that we're hanging in there snch. >> just a a normal analogy, and i asked you to run the london marathon, what happened, you get a heart attack and you die. if you get to run the marathon and you lose 10 euros per year, that is healthier. the bite of time versus what you do. the direction was totally unacceptable. you are wrong. what happens is they said left turn. that's number one point. number two, now the urgency is coming back and it's extremely, in my view, debt meantal to the countries over the last 40, 50 days they haven't been able to create a government. >> some people are saying it makes no difference because monte continues to push through these measures. >> they're still in government, but the reality is italy needs a f
this has basically made the economy much worse. the fact that italy has already defaulted internally, clearly that is totally ineffectual. >> investors still don't care, though. would it be better if the market cared more if there wasn't a natural deterrent from pensions to change economy? is it an okay that we're hanging in there snch. >> just a a normal analogy, and i asked you to run the london marathon, what happened, you get a heart attack and you die. if you get to run the...
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economy, the service sector. if we look at the adp's and the expectation for friday, its new read is 53.3 and twhafs last time, 57.2 so headline disappointing a bit and the employment index disappointing a bit more and when was the last time we had a read at 54.4? that will be the weakest since november of last year? carl, back to you. thank you so much, rick santelli on that miss. let's get a check on the markets. 54.4 was a miss, lowest since november. the estimate was 55.8 and we have lost growth fund here. s&p down about four handles to 15.66 and the nasdaq down a tough to 15.51. >> jc penney saying its ceo did not receive a bonus or stock award after what was a dismal year for the retailer. courtney reagan has the details. >> 2012 was a rough year for jc penney, no doubt. they shed their value in the calendar year as they logged the first 11 months. ceo ron johnson and others felt that hit in their paychecks. for 2012, johnson's base pay was unchanged at 1.5 million and his total compensation 1.9 million and
economy, the service sector. if we look at the adp's and the expectation for friday, its new read is 53.3 and twhafs last time, 57.2 so headline disappointing a bit and the employment index disappointing a bit more and when was the last time we had a read at 54.4? that will be the weakest since november of last year? carl, back to you. thank you so much, rick santelli on that miss. let's get a check on the markets. 54.4 was a miss, lowest since november. the estimate was 55.8 and we have lost...
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the national auto dealer, a classic tell of the underlying strength of the economy. terrific march car sales would make us feel the employment number might be an aberration and i think it will. we have consumer credit numbers that show consumers are borrowing more aggressively for cars than any time in the last six months. bullish and then after the bell, we hear from the first big retailer, bed, bath & beyond. three weak numbers in a row from this company, first store less than two miles from my house. however, the stock has been incredibly strong since the last bad quarter. i have a theory, just like best buy was to be a showroom for amazon, and it drove it to the low teens and now doubled. we heard the same thing about bed bath. turned out best buy was stronger and more resilient than we thought. i think bbby will be as resilient as bby. you want something to worry about? i will give you something to worry about. thursday's initial unemployment claims. i think they will be horrendous, courtesy of the sequester. kicks in with both barrels. it's going to jar us. so
the national auto dealer, a classic tell of the underlying strength of the economy. terrific march car sales would make us feel the employment number might be an aberration and i think it will. we have consumer credit numbers that show consumers are borrowing more aggressively for cars than any time in the last six months. bullish and then after the bell, we hear from the first big retailer, bed, bath & beyond. three weak numbers in a row from this company, first store less than two miles...
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north korea's nuclear threats be the kind of unforeseen wild card that derails the markets and the economy? we'll find out exactly how bad things could get with a rare and exclusive interview coming up with former defense secretary leon panetta. that's later on in the program. stay with us for that. welcome to the new new york state. what's the "new" in the new new york? a new property tax cap... and the lowest middle class income tax rate in 60 years... and a billion dollars in tax breaks and incentives. new opportunities for business. over 250,000 new private sector jobs were created over the last two years. and 17 straight months of job growth. with the most private sector jobs ever. lower taxes, new incentives, new jobs, now that's news. to grow or start your business in the new new york visit thenewny.com with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg
north korea's nuclear threats be the kind of unforeseen wild card that derails the markets and the economy? we'll find out exactly how bad things could get with a rare and exclusive interview coming up with former defense secretary leon panetta. that's later on in the program. stay with us for that. welcome to the new new york state. what's the "new" in the new new york? a new property tax cap... and the lowest middle class income tax rate in 60 years... and a billion dollars in tax...
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Apr 2, 2013
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their economy is in a shambles. they can't afford a prolonged conflict of any kind, which is why they would have a nuclear arsenal to begin with, because one strike is all you need, but they are, you know, in the end, the feeling is that all he's trying to do is bring the other side to the bargaining table so they can remove sanctions and get on an even keel. >> you are acting like a rational actor. >> i understand. >> that's the problem. >> i get it. >> and i agree with you, of course you're right. but if they're not entirely rational or in control or willing to take some risks, it could get difficult. here's the big hope i have. they're supposed to continue these military exercises for the next couple of weeks. i think that tensions will be high. hopefully, when the military exercises are over, this all goes away. the koreans, the north koreans calm down. >> bob, thanks very much. >> by the way, april is autism awareness month. you'll notice, we're wearing our pins again this year. this is the symbol for autism sp
their economy is in a shambles. they can't afford a prolonged conflict of any kind, which is why they would have a nuclear arsenal to begin with, because one strike is all you need, but they are, you know, in the end, the feeling is that all he's trying to do is bring the other side to the bargaining table so they can remove sanctions and get on an even keel. >> you are acting like a rational actor. >> i understand. >> that's the problem. >> i get it. >> and i...
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as a beacon of hope for the global economy. he'll tell us why, next. and get his take on how worried investors need to be about north korea, coming ups a well. >> and a find out his thoughts on europe as well. >>> plus, carnival. has it become a circus? the cruise line had a string of debacles, but we're barely hearing a peep from the ceo and nobody has been replaced despite all these issues. can carnival right the ship with this lack of leadership? it's coming up. with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> tensions with north korea showing no signs of cooling off. nbc's jim maceda is in seoul with the very latest. >> reporter: well,
as a beacon of hope for the global economy. he'll tell us why, next. and get his take on how worried investors need to be about north korea, coming ups a well. >> and a find out his thoughts on europe as well. >>> plus, carnival. has it become a circus? the cruise line had a string of debacles, but we're barely hearing a peep from the ceo and nobody has been replaced despite all these issues. can carnival right the ship with this lack of leadership? it's coming up. with...
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. you'd do that for me? really? yeah, i'd like that. who are you talking to? uh, it's jake from state farm. sounds like a really good deal. jake from state farm at three in the morning. who is this? it's jake from state farm. what are you wearing, jake from state farm? [ jake ] uh... khakis. she sounds hideous. well she's a guy, so... [ male announcer ] another reason more people stay with state farm. get to a better state. ♪ and never back down. who believe the american dream do
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help...
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what the economy is doing and the markets are doing. i think the market is going to work that out probably with more selloffs like we're seeing now and then we'll probably find equilibrium. >> yeah. congratulations. enjoy the ipad case. keep playing, michael. >> caller: thank you. >> that does it for us as we wrap us this friday here on "squawk on the street." "fast money halftime" is at post nine. >>> . >>> all right. welcome to the halftime show, carl. thanks so much. post nine today. four hours to go until the close. right here is where we stand on the street. we are off the lows of the day but not a good one on the street today on this friday. the dow industrials down almost 1%. 120 points. s&p off by 1%. nasdaq's the biggest loser today. here's what we're following on the half. the next hedge fund battleground. some of the biggest money on the ground betting big on swjapan's rise or fall. >>> shiller's chiller. man who called the dotcom and housing bubbles is makes another bold statement on stocks and you cannot afford to miss what
what the economy is doing and the markets are doing. i think the market is going to work that out probably with more selloffs like we're seeing now and then we'll probably find equilibrium. >> yeah. congratulations. enjoy the ipad case. keep playing, michael. >> caller: thank you. >> that does it for us as we wrap us this friday here on "squawk on the street." "fast money halftime" is at post nine. >>> . >>> all right. welcome to the...
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can the economy stand on its own? if we do have the fed to get back there, are we actually growing in a real way and could we survive without the fed? >> brian, the question you're asking is the key one, which is when the fed decides to pullback, where do we find ourselves? >> i think importantly if we're stable from the standpoint of income statements, balance sheets, there's more political certainty. commodity price ves moderated. the political uncertainty in the world is moderated. i think we'll be in ach better position. but i think one of the most important things is if you listen to chairman bernanke's testimony, i think he intends to be very cautious. and while the exit may occur, it's not going to be abrupt and i think we'll see a nice bleed into the market. hopefully we can move into an unsustained, unsupported fed market. but i think that's going to take some time the. >> dan, just -- i know you guys haven't gotten to earnings yet. but what was the feel of things this past quarter at bofa? did sales and trad
can the economy stand on its own? if we do have the fed to get back there, are we actually growing in a real way and could we survive without the fed? >> brian, the question you're asking is the key one, which is when the fed decides to pullback, where do we find ourselves? >> i think importantly if we're stable from the standpoint of income statements, balance sheets, there's more political certainty. commodity price ves moderated. the political uncertainty in the world is...
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there are some reasons to worry, but i wouldn't be writing off the economy just yet. they are still subject to revisions and i think there's still a market out there. and whether or not growth continues or we have some weakness. >> a very important point. >> you don't want to look at everything based on one month. thanks, everybody. appreciate it. we want to get to pisani here. we want to get a check on the stocks that are really driving this market lower. even though, bob, we are down more than 170 and we're down just about 80 points right here. how do you see it? >> if this is a spring swoon, it's been pretty modest. take a look at the dow jones industrials. the bottom line is we had heavy selling at the open, but it stopped after about 10:00. the volume right now is actually on the moderate side. take a look at the sectors that are weak today. it's a broken record, folks. for two weeks, i've been putting out the same weak sectors, all the cyclical names, financials, materials, industrial names. that's what's been moving the market lower. take a look at the sectors
there are some reasons to worry, but i wouldn't be writing off the economy just yet. they are still subject to revisions and i think there's still a market out there. and whether or not growth continues or we have some weakness. >> a very important point. >> you don't want to look at everything based on one month. thanks, everybody. appreciate it. we want to get to pisani here. we want to get a check on the stocks that are really driving this market lower. even though, bob, we are...
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Apr 3, 2013
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three, four years ago we started losing demand when the economy turned. it was 300,000, 4-000 barrels a day we were losing yes. as the economy has improved, the demand has never come back to the gasoline market. i think the reason why is because of fuel efficiency of vehicles on the road. in five years, we've increased it by 17%. you still have most vehicles on the road are 11 years old. when those vehicles are replaced, they're going to highly fuel-efficient vehicles and the demand for gasoline won't pick up on that reason alone. >> all right, jim, gasoline's had a huge rally this year. when will people see some relief at the pump? how long is it going to take for the decline in the spot prices to reach retail prices at gas stations? >> well, i think that that should happen fairly soon, as this move accelerates. we talked about the apparent divergence between gasoline and crude. and i will challenge and say that there was a significant divergence back in january where gasoline prices skyrocketed comparatively to crude, and we're just kind of retracing th
three, four years ago we started losing demand when the economy turned. it was 300,000, 4-000 barrels a day we were losing yes. as the economy has improved, the demand has never come back to the gasoline market. i think the reason why is because of fuel efficiency of vehicles on the road. in five years, we've increased it by 17%. you still have most vehicles on the road are 11 years old. when those vehicles are replaced, they're going to highly fuel-efficient vehicles and the demand for...
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Apr 2, 2013
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> power rundown time. joining us is jane wells and bob pisani. first up, a federal bankruptcy judge has ruled that stockton, california, is eligible for court protection from its creditors. in today's yahoo finance question we asked -- 61% say yes, if they need the cuts to recover. 39% say, no, it's not fair to the pensioners. jane, since it's in your neck of the woods, what do you think? this has big ramifications out there. >> unfortunately under state law, calpers is not a creditor. so it will being if -- my feeling is if -- this should at least by on the table in the public sector. united,. y brother-in-law who >> it's an interesting question. where do people figure in, so should pensioners be protected against, f
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> power rundown time. joining us is jane wells and bob pisani. first up, a federal bankruptcy judge has ruled that stockton, california, is...
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Apr 3, 2013
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. >> more about the economy. one of the feds best known hawks and doves squared off in a rare public debate between two policy makers. chicago fed president charles evans and richmond fed president jeffrey lacquer, both on this show, discussing inflation risks. evans argued the fed was still in his words missing tremendously on the employment side of the dual manndate and inflation was under the 2% goal but lacker countered with a warning that inflation worries could mount and we'll see it in tips. we have our own fed news maker this morning. we'll see where he comes down. probably somewhere in between these two at 8:30 eastern. live from the federal reserve in washington, d.c., steve liesman will sit down with fed governor dan tarullo who used to come on when he wasn't a fed governor. regulating the banks. volcker rule. monetary policy and the economic outlook. >> we want to know what's happening in the room when these guys are arguing back and forth how close are they to the idea of tapering things. >> i want t
. >> more about the economy. one of the feds best known hawks and doves squared off in a rare public debate between two policy makers. chicago fed president charles evans and richmond fed president jeffrey lacquer, both on this show, discussing inflation risks. evans argued the fed was still in his words missing tremendously on the employment side of the dual manndate and inflation was under the 2% goal but lacker countered with a warning that inflation worries could mount and we'll see...
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Apr 4, 2013
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they're shared by many economies. so in the uk they're doing means testing. now means testing isn't mean. it's very much needed because there are abuses. there's people who need programs and there are people, believe it or not, who abuse programs. in the country, back to unemployment, i've talked about how we have 14 million people on disable that are not even counted as unem ploited. uk has a similar problem. so to means test it, to address it, and they are addressing it, let's read something from april 1st. a total of 878,300 claimants decided not to go ahead with an assessment of their fitness to work. the figure was more than a third, a third of the total number of people claiming sickness-related benefits. now in the u.k. they don't call it disability, they call it incapacity. now let's put the next screen up. these figures demonstrate how the welfare system was broken under labor and why the reforms are so important. so let's put this in perspective. means testing not even implements yet, and once this the news basically a third, a third, 800 to 900,000
they're shared by many economies. so in the uk they're doing means testing. now means testing isn't mean. it's very much needed because there are abuses. there's people who need programs and there are people, believe it or not, who abuse programs. in the country, back to unemployment, i've talked about how we have 14 million people on disable that are not even counted as unem ploited. uk has a similar problem. so to means test it, to address it, and they are addressing it, let's read something...
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because it seems to me that you might get some slowing of the economy which then would be positive for gold again. >> well, we've looked at rising interest rates relative to the commodity complex. and as a matter of fact, what you -- >> but what about housing? >> with the general economic outlook, rising interest rates are generally supportive of growth. in other words, these are a reflection of improved activity. so, you know, when we see rising interest rates, i'm not talking about spiking interest rates, this is actually a positive for the economy, as it is for most commodities. gold is the exception. when you get rising interest rates, you actually start to see if you look over the last couple of decades, gold sell-off while the rest of the commodity complex actually increased because of increased prosperity and gdp growth. >> i want to get back to the role of the etfs here. in your note you did rye where i that 2500 tons of gold are held around the world. etf holdings outnumber only two central bank out there, the u.s. and germany. when this end comes, it is going to be orderly, d
because it seems to me that you might get some slowing of the economy which then would be positive for gold again. >> well, we've looked at rising interest rates relative to the commodity complex. and as a matter of fact, what you -- >> but what about housing? >> with the general economic outlook, rising interest rates are generally supportive of growth. in other words, these are a reflection of improved activity. so, you know, when we see rising interest rates, i'm not...
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conagra doesn't need any growth at all, it actually does better when the economy is stagnant, something the adp employment snapshot this morning indicates might be the case. second, this morning goldman sachs downgraded caterpillar taking it from a buy to a hold. why? because demand for materials is plunging, particularly iron ore. you need cat's big machines like this to get materials out of the ground. stock lost 76 cents on this downgrade, even as cat was down 5% for the year, and off gigantically from its high a year ago finishing at 84 bucks. third, conagra reported its earnings this morning, and by most accounts they were, indeed, disappointing. people expected more from this incredibly well-managed company, which is better managed than caterpillar. what happened to this stock on this disappointing quarter, on a quarter that raised questions about the food company's long-term growth rate? down 69 cents. big deal. despite the fact it's been up 17% for the year as one of the best performers in the whole stock market. let's make it tough. caterpillar selling only nine times next year
conagra doesn't need any growth at all, it actually does better when the economy is stagnant, something the adp employment snapshot this morning indicates might be the case. second, this morning goldman sachs downgraded caterpillar taking it from a buy to a hold. why? because demand for materials is plunging, particularly iron ore. you need cat's big machines like this to get materials out of the ground. stock lost 76 cents on this downgrade, even as cat was down 5% for the year, and off...
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economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. >>> a chance to talk about some of the things that may not be quite as -- we have already done a little bit of that today. but anyway, kevin ware, successful operation hopefully. >> he may be back for the final four. >> that was incredible. that would be good. >> it would. and now new york is funny because one win, one win. and you're on the front page. it's a big paper. it's the daily news. but one win. that shows you what you as a fan have had to do. it was kind of bizarre-o wo
economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your...
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even the german economy slowed down now. they need those nations around them that they're always criticizing as markets. when they don't have them as markets, they're going to suffer. >> and if we see a headline that says kim jong un is take over as head of the ecb, that would have me nervous. not sure it will happen. general, abigail, brian, thank you very much. i know many of you are returning later on in the show. all right. up next, housing deja vu all over again. washington wants to make it easier for people with weak credit to buy a home. is that a good idea? a recipe for a housing bust part two? and later on, the president back on the gun control campaign trail. it's all about more background checks now. and the president still pushing this rather disputable claim. >> why wouldn't you want to make it more difficult for a dangerous criminal to get his or her hands on a gun? why wouldn't you want to close the loophole that allows too many criminals to buy a gun without even the simplest of background checks? why on eart
even the german economy slowed down now. they need those nations around them that they're always criticizing as markets. when they don't have them as markets, they're going to suffer. >> and if we see a headline that says kim jong un is take over as head of the ecb, that would have me nervous. not sure it will happen. general, abigail, brian, thank you very much. i know many of you are returning later on in the show. all right. up next, housing deja vu all over again. washington wants to...
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in fact, the economy is so weak that maybe, just maybe a punch bowl's not big enough to do the job. we need the brute! now, we aren't going to just use any hawaiian punch because that might not have the impact we like. what are we going with? we're going with uncle ben's best! that's right. ben's best. produced at the federal reserve gin mill. don't worry. we've got some real cheap gin to add, too. ben's best is going to let us buy when we're finished with this $80 billion worth of u.s. bonds every single month, and you know what? we're not even going to know we're doing it, it's that good. anyway, what's the secret behind ben's best? it makes everything other than stocks, especially bond juice, taste terrible. you can't even think of drinking a bond. it gives you no return, and a stomach ache like grain alcohol. it doesn't matter whether you're buying junk bonds, municipal bonds, agency bonds, certificates of deposits, treasuries! you're getting that same lousy return you get from sipping sterno or at least drinking some rubber-all alcohol, of course, mixed with kang! what else is
in fact, the economy is so weak that maybe, just maybe a punch bowl's not big enough to do the job. we need the brute! now, we aren't going to just use any hawaiian punch because that might not have the impact we like. what are we going with? we're going with uncle ben's best! that's right. ben's best. produced at the federal reserve gin mill. don't worry. we've got some real cheap gin to add, too. ben's best is going to let us buy when we're finished with this $80 billion worth of u.s. bonds...
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jocks, globe economy, g.m.'s outlook at the global economy. plus, the steel range. awe then particular design. looked so good. we'll outside to kick the tires. not actually to a look at the car. acceler-rental. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or the 900 million health insurance claims we process. so, it's no surprise to you that companies depend on today's xerox for services that simplify how work gets done. which is...pretty much what we've always stood for. with xerox, you're ready real business. the little details. the little moments that make life truly amazing. that's why southwest worked hard on the little and big things to build a better in-flight experience featuring access to wi-fi, live tv, and updated cabins. getting there just got bett
jocks, globe economy, g.m.'s outlook at the global economy. plus, the steel range. awe then particular design. looked so good. we'll outside to kick the tires. not actually to a look at the car. acceler-rental. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're...
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economy. total for this year? >> we're at 2.75%. and probably stronger than that. >> what do we get in terms of unemployment? what kind of -- >> well, i think we're going to be in the low 7. that means the fed will now be seen as paper. many of the fed are talking about paper. so you add less to the balance sheet. they could add less to the balance sheet because housing is in good shape, even fannie mae is in good shape and next year add less treasuries. >> the fed will start tapering? >> it will be in the second half. >> okay. for some reason, this is just occurring to me because i guess for some reason, 1el 85 here for ten years is awful. i don't know why anyone would do it based on the possibility of inflation at sh point. but someone would give someone money for ten years at 0.4% when their stated intention is to try to bring inflation back in japan to 2%. so you would be crazy to september 0.4%, but yet people are doing it. why? what does it mean? >> well, look, there's no return. the japanese are very cautious. >> it seems lik
economy. total for this year? >> we're at 2.75%. and probably stronger than that. >> what do we get in terms of unemployment? what kind of -- >> well, i think we're going to be in the low 7. that means the fed will now be seen as paper. many of the fed are talking about paper. so you add less to the balance sheet. they could add less to the balance sheet because housing is in good shape, even fannie mae is in good shape and next year add less treasuries. >> the fed will...
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economy. i don't know. maybe it wasn't that strong. can i praise ben bernanke --? can we get ben bernanke the signed book. you know the signed thing that we did. did you sign that or was that a rebellion thing? >> no, i did it. i did it. let me come back to the u.s. market, earnings and how focused we should be on earnings season. we have had a market hitting highs and multiples have been expanding in part because there is a hope that we will see significant growth even if it's not the top line. what, if anything, does this jobs number say about what we can expect? >> if the government is a client, look out. that's when we saw with the five. a dell. >> david, call your guys and tell them to stop the dell deal. honestly, are they looking at this number saying this is a bridge too far? do they do that kind of thing? >> they do. michael dell and silverlake are locked in at 13.65. >> what does it do to the market? is that ual, 1989? >> no. >> precipitous decline. >> unaffected stock price? i don't
economy. i don't know. maybe it wasn't that strong. can i praise ben bernanke --? can we get ben bernanke the signed book. you know the signed thing that we did. did you sign that or was that a rebellion thing? >> no, i did it. i did it. let me come back to the u.s. market, earnings and how focused we should be on earnings season. we have had a market hitting highs and multiples have been expanding in part because there is a hope that we will see significant growth even if it's not the...
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. >> the big concern is the overall economy, the global economy and south korea's place in it. the concern is that the stock market has been getting pummeled. just yesterday, saturday morning here, on friday, the stock market fell 1.6%. over the week it fell 3.8%. that is the worst in ten months. this is an economy that relies on foreign investment, foreign investors are the ones leading the sell-off. without america buying, without american customers, this is an export driven economy that sees it going down the tubes. so anderson, a war is already taking place in south korea. they believe it is a psychological war, that north korea is trying to target south korea's economy. >> appreciate the reporting. chris lawrence as well. >>> scare tactics directed towards countries outside north korea have been a big part of our focus the last couple days but we want to show you the reality of what's happening inside north korea. inside the delusions, the propaganda, the enduring images of the young dictator there, you see his troops adoring him, cheering him on, that's all part of the st
. >> the big concern is the overall economy, the global economy and south korea's place in it. the concern is that the stock market has been getting pummeled. just yesterday, saturday morning here, on friday, the stock market fell 1.6%. over the week it fell 3.8%. that is the worst in ten months. this is an economy that relies on foreign investment, foreign investors are the ones leading the sell-off. without america buying, without american customers, this is an export driven economy...
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one of the brightest spots in our economy, housing. sales are up, mortgage rates are low and we are buying. >> 2013 should be a very good year for the housing market. we expect the spring to be quite robust. we have historically low mortgage rates with a 30-year fixed being well below 4%. it is a sign things are getting better. people are more confident. buying more, investing more, investing in netflix. the internet movie site going gang busters and leading the s&p. if you invested in the company on january 1st, you have doubled your money. the stock is up almost 107%. >> we describe ourselves as an internet television network. we know what our members love to watch. we licensed the content that we know our members are going to love to watch. >> other big movers this year, big box store, best buy. up 87%. hewlett-packard, up 68%. what's next? big bank strategist, david kelly at jpmorgan chase, tells us to enjoy the ride. he expects stocks to return between 6% and 8% a year for the next five years. >> so, zain joins us to tell a little
one of the brightest spots in our economy, housing. sales are up, mortgage rates are low and we are buying. >> 2013 should be a very good year for the housing market. we expect the spring to be quite robust. we have historically low mortgage rates with a 30-year fixed being well below 4%. it is a sign things are getting better. people are more confident. buying more, investing more, investing in netflix. the internet movie site going gang busters and leading the s&p. if you invested...
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you see a lot of people shoveling and there you see the hammer and sickle of this economy, the government, manifestations of the come nis philosophy. >> the subway is clean and orderly although the lights don't always stay on. it doubles as a bomb shelter and it's got propaganda music and music. the population may be getting other glim. s of the world. >> they're huge in the internet and gain the momentum and finding the information and they're finaling asking, north korea is not paradise on earth. it's actually hell on earth. why are we living like this? tough situation right now. we'll stay on top of it for you our viewers around the states and around the world. you can follow what's going on in "the situation room." you can like us on facebook. thanks very much for watching. i'm wolf blitzer in "the situation room". situation room". the nusz continues next on cnn. -- captions by vitac -- www.vitac.com jimmy: happier than paul revere with a cell phone. ronny: why not? anncr: get happy. get geico. fifteen minutes could save you fifteen percent or more. and every day since, two years ago,
you see a lot of people shoveling and there you see the hammer and sickle of this economy, the government, manifestations of the come nis philosophy. >> the subway is clean and orderly although the lights don't always stay on. it doubles as a bomb shelter and it's got propaganda music and music. the population may be getting other glim. s of the world. >> they're huge in the internet and gain the momentum and finding the information and they're finaling asking, north korea is not...
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is the economy slipping back into serious trouble? >>> and the texas governor rick perry speaking his mind on guns, on immigration, on the letter he gave the president two or three years ago that still hasn't received in his words a response. >>> i'm wolf blitzer. you're in "the situation room." >>> all those stories ahead but we begin with an ominous new sign that north korea is edging closer and closer to launching a new missile. the north today warned foreign diplomats in the capital of pyongyang that it will not be able to guarantee their safety if fighting breaks out and the north korean regime suggested all those diplomats evacuate the capital. adding to the alert word north korea has two missiles ready for launch. the white house says that would fit the north's pattern of behavior. >> we've obviously seen the reports that north korea may be making preparations to launch a missile and we're monitoring the situation closely. we would not be surprised to see them take such an action. >> we'll have the situation room special report
is the economy slipping back into serious trouble? >>> and the texas governor rick perry speaking his mind on guns, on immigration, on the letter he gave the president two or three years ago that still hasn't received in his words a response. >>> i'm wolf blitzer. you're in "the situation room." >>> all those stories ahead but we begin with an ominous new sign that north korea is edging closer and closer to launching a new missile. the north today warned...
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a relief it is! cue up alka-seltzer. it stops heartburn fast. what's the "new" in the new new york?. a new property tax cap... and the lowest middle class income tax rate in 60 years... and a billion dollars in tax breaks and incentives. new opportunities for business. over 250,000 new private sector jobs were created over the last two years. and 17 straight months of job growth. with the most private sector jobs ever. lower taxes, new incentives, new jobs, now that's news. to grow or start your business in the new new york visit thenewny.com listen, your story line, it
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a...
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. >> reporter: he led north korea's attempt to revive the economy, and has extensive ties to china of the he's now kim's key policy adviser. >> he's come very far, in a very short period of time. from number 19th to number 2. >> reporter: he may be the closest north korea has to a reformer. >> anyone who deviates, even slightly from the path. >> reporter: outside the first family, the inner circle is small. are these kim's military elite? >> no, they're gone. most of these people are gone now. >> reporter: kim purged the military veterans his father relied on and installed his own men. this is a party man, the first bureaucrat to run the military in the arms sales business. >> he is someone who is considered to be the kim jong-un's inner circle man when it comes to the military. >> make no mistake, kim rules with an iron fist, but it's not an isolated one. and after sweeping aside a lot of the folks who were in power with his father, he's even more reliant now than ever on his aunt and uncle, wolf. >> chris lawrence, with good information from the pentagon. thanks very much. let's bri
. >> reporter: he led north korea's attempt to revive the economy, and has extensive ties to china of the he's now kim's key policy adviser. >> he's come very far, in a very short period of time. from number 19th to number 2. >> reporter: he may be the closest north korea has to a reformer. >> anyone who deviates, even slightly from the path. >> reporter: outside the first family, the inner circle is small. are these kim's military elite? >> no, they're gone....
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the best highway fuel economy of any gas engine in america. see lioutdoors, or in.ight. transitions® lenses automatically filter just the right amount of light. so you see everything the way it's meant to be seen. maybe even a little better. visit your eyecare professional today to ask about our newest lenses, transitions vantage and transitions xtractive lenses. experience life well lit. ask which transitions adaptive lens is best for you. and i have a massive heart attack right in my driveway. the doctor put me on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. go talk to your doctor. you're not indestructible anymore. ♪ 'cause germs don't stick on me ♪ [ female announcer ] band-aid brand has quiltvent technology with air channels to let boo boos breathe. [ giggles ] [ female announcer ] quiltvent technology, only from band-aid brand. use with neosporin first aid antibiotic. >>> it's been 30 years since the king of pop first moonwalked across the stage and almost three years since he died after taking
the best highway fuel economy of any gas engine in america. see lioutdoors, or in.ight. transitions® lenses automatically filter just the right amount of light. so you see everything the way it's meant to be seen. maybe even a little better. visit your eyecare professional today to ask about our newest lenses, transitions vantage and transitions xtractive lenses. experience life well lit. ask which transitions adaptive lens is best for you. and i have a massive heart attack right in my...
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Apr 5, 2013
04/13
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that's an underlying problem for the economy. we need to get more people back. >> we will bring you new numbers, the minute, second they come in. stay with us for that. >>> meanwhile, breaking news. missiles on the move and tensions rising, pyongyang is asking russia to consider evacuating its embassy staff in the north. russian officials say they have no immediate plans to comply. meanwhile, u.s. officials tell cnn two missiles and launch components have been moved to north korea's east coast in the last few days with a range of 2,500 miles. these missiles could strike south korea, japan, and u.s. air bases in guam. jim clancy live in seoul, south korea. jim, what's the latest? >> well, we're ratcheting up the pressure once again. north korea, apparently according to the russians, telling them they might want to evacuate some of their embassy staff, if not all of them. we're understanding this is a message that may have been given to other embassies as well. russians are going public with that. you noted they haven't made a deci
that's an underlying problem for the economy. we need to get more people back. >> we will bring you new numbers, the minute, second they come in. stay with us for that. >>> meanwhile, breaking news. missiles on the move and tensions rising, pyongyang is asking russia to consider evacuating its embassy staff in the north. russian officials say they have no immediate plans to comply. meanwhile, u.s. officials tell cnn two missiles and launch components have been moved to north...
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Apr 1, 2013
04/13
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down it's red hot housing markets and top a housing bubble that some think may seriously damage the economy. >>> people who live alone are now banned from buying a seconds home. others trying to buy a second home already required to putmore money down. shanghai is taking similar measures as well. >> in china the cost to buy a home has doubled in the past five years. >>> now saudi arabia, if you want to do some online video chatting there may in the future be no app for that. the country's communication agency block that kind -- >> allow the government to monitor the messages that are being sent. social media and instant messaging have been widely used in the arab world in the past years, especially during social unrest. >> people in saudi arabia very worried about that. >>> and here's something you tonight see every day, a golfer without his pants. turns out while playing in a european tournament, a golfer removes his pants. >> the shot that landed near the water hazard on the sloping side of the green there, so he actually had to stand in the water to play the ball and so he took it all of
down it's red hot housing markets and top a housing bubble that some think may seriously damage the economy. >>> people who live alone are now banned from buying a seconds home. others trying to buy a second home already required to putmore money down. shanghai is taking similar measures as well. >> in china the cost to buy a home has doubled in the past five years. >>> now saudi arabia, if you want to do some online video chatting there may in the future be no app for...